The United Nations seems to be in support of cryptocurrencies following the announcement of the UNICEF Cryptocurrency Fund. The United Nations Children’s Fund aka UNICE, an agency of the United States has revealed that it would accept cryptocurrencies in donations.
UNICEF’s latest initiative would permit the agency to acquire, retain and spend donations in cryptocurrencies. Bitcoin and Ether, are the two currencies supported by the agency. UNICEF intends to promote open-source technology that can be advantageous for children around from the acquired digital assets.
Currently, present in 191 countries, UNICEF was established back in 1946 in order to ensure sufficient safety healthcare to children across the globe. The agency’s Executive Director, Henrietta Fore, elaborated on the latest crypto-venture of the agency and suggested,
“If digital economies and currencies have the potential to shape the lives of coming generations, it is important that we explore the opportunities they offer. That’s why the creation of our Cryptocurrency Fund is a significant and welcome step forward in humanitarian and development work.”
All these years UNICEF has been financed by the government and private donors. The Ethereum Foundation would be the first to make a donation that would render to three grantees of the UNICEF Innovation Fund. The Executive Director of the Ethereum Foundation, Aya Miyaguchi, commented on the same and said,
“The Ethereum Foundation is excited to demonstrate the power of what Ethereum and blockchain technology can do for communities around the world. Together with UNICEF, we’re taking action with the Cryptofund to improve access to basic needs, rights, and resources.”
USA, Australia and New Zealand, UNICEF’s national committees have already begun to accept cryptocurrency. The latest initiative is the agency’s aim at exploring blockchain technology.
Bitcoin can reach $25K if usage crosses 1M people: Thomas Lee
Managing Partner and Head of Research at Fundstrat Global Advisors, Tom Lee, recently made an appearance on CNBC‘s ‘Street Signs Asia‘ segment to talk about Bitcoin price movements in the future. Lee also spoke about why he thinks Bitcoin will touch $25K by 2022.
According to Lee, for an industry that’s over a decade old, these are still early days for digital assets. However, as time passes, it will become very institutional, he said. Fundstrat’s Lee added,
“Over time, it’s going to become an asset class, and once we hit that it’s actually another hockey stick.”
When asked about his prediction for the king coin’s price, Lee said that it had been established back in 2017 as a five-year prediction. According to him, the predicted goal would be easy to achieve due to cryptocurrencies being network value assets — the more people that hold it, the greater its value.
“In fact, it’s a log function, so if you double the users you get a quadrupling of value, and to go to $25,000 you essentially need a 4x rise (a little bit less than that) which means you need to double the number of people who hold Bitcoin.”
According to Lee’s estimates, there are under half a million people in the world who own and use Bitcoin widely today. He also compared Bitcoin to Internet stocks such as FAANG and attributed 70% of their returns since the IPOs to the growth of the Internet over that period of time.
“So in other words, it was a log function of the Internet growth, and that’s how cryptocurrencies are going to work. That’s just saying if you take it to a million users, you could get to $25,000.”